Before you worry about understanding Medicaid Waivers, get on the Interest Lists for them.
Then you will have up to 15+ years to learn how they work.
They are called Medicaid Waivers because Medicaid requirements are 'waived', meaning they don't apply. For example, income.
Waivers let states use Medicaid funds for long-term and community-based supports in order to help them live in the community. Prior to Waivers, people had to live in hospitals, nursing homes, and other State Supported Living Centers so Medicaid would pay.